Remalda Sues Laidlaw & Company over Damages Suffered at the Hands of the Brokerage Firm

Laidlaw & Company, a top banking and brokerage company is battling to keep its image intact after one of its biggest clients went to court over damages inflicted upon it by the principals of Laidlaw. The complainant, Remalda Therapeutics, accuses Laidlaw & Company of defamation/business, defamation per se, and tortious interference. Remalda is also suing the defendant over corruption charges. At the center of the scandal are Mathew Eitner and James Ahern, two of Laidlaw & Company’s executive leaders. According to the lawsuit which Remalda filed with the U.S. District Court for the District of Nevada on September 14th, 2016, Eitner and Ahern provided false proxy materials to the complainant with the aim of gaining financial advantage from the therapeutic company. Remalda now wants the court to compel Laidlaw& Company to compensate the losses it suffered at the hands of the defendant. The lawsuit could also signal the end of the road for the two firm’s relationship as Remalda wants the court to give a ruling protecting from causing harm to it in the future.
The situation is an uncomfortable one for Laidlaw & Company. In its seventeen years of existence, Laidlaw has built the reputation of a reliable investment partner to its clients. The firm specializes in giving personalized and practical solutions for clients looking to invest in securities. Most of its customers range from individual businesspeople, private organizations, and public institutions. Currently, the brokerage firm is an affiliate with major investment corporations such as SEC and 1 Self-Regulatory Org. The company’s client, Remalda Therapeutics deals with the development of innovative of therapies for the treatment of Central Nervous System diseases.
For Laidlaw & Company, the lawsuit is an unwelcome development, and it remains to be seen how the negative publicity generated by the scandal affects the large firm.